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Skyworks Solutions Inc. (NASDAQ:SWKS) grew its share prices by 9.79 percent on Thursday to close at $84.03 amid increasing optimism over an approval for its $22 billion planned merger with Qorvo Inc.
This followed Skyworks CEO Phil Brace's announcement at a Goldman Sachs conference that the company's merger with Qorvo is in the final stages and is expected to close by the end of the year.
Under the terms of the agreement, Qorvo shareholders are set to receive $32.50 in cash and 0.960 shares of Skyworks Solutions Inc. (NASDAQ:SWKS) at the close of the transaction.
Upon completion, Skyworks shareholders will own approximately 63 percent of the company, while Qorvo stockholders will hold the remaining 37 percent.
